Chang Hwa Bank wins at ESGBusiness Awards 2025 for carbon disclosure
The bank demonstrates measurable progress in operational and financed emissions reduction initiatives.
Chang Hwa Bank won Carbon Disclosure Award - Taiwan in the ESGBusiness Awards 2025. The recognition highlights the bank’s commitment to transparent reporting and science-based emissions reduction targets as part of its long-term decarbonisation strategy.
In 2024, Chang Hwa Bank obtained official approval from the Science Based Targets initiative (SBTi) for its near-term greenhouse gas (GHG) emissions reduction targets. These cover both operational emissions (Scopes 1 and 2) and financed emissions (Scope 3), underscoring the bank’s role in aligning its operations and financial activities with international climate standards.
For operational emissions, Chang Hwa Bank set a 2030 target to reduce carbon output from its 2020 baseline. By 2024, the bank recorded 14,052 tCO2e in verified emissions, reflecting significant progress toward its goals. The results stem from measures such as replacing high-consumption equipment with energy-efficient alternatives, transitioning to electric vehicles, and sourcing renewable energy through procurement and on-site generation facilities.
On the financing side, Chang Hwa Bank conducted inventories for eight asset classes using the Partnership for Carbon Accounting and Financials (PCAF) methodology. Coverage improved year on year, whilst total financed emissions declined to 4.4 MtCO2e. The bank also reported a reduction in economic emission intensity by1.92 tCO2e per NT$1m of investment and financing.
To advance its net-zero strategy by 2050, Chang Hwa Bank is phasing out investment and financing for coal and unconventional fossil fuels by 2040. The bank also requires financing for high-emission sectors to comply with green standards by 2050. In 2024, these sectors accounted for about 1.28 MtCO2e in financed emissions. To address this, limit guidelines were introduced and outcomes are now regularly reviewed by the board.
In addition, Chang Hwa Bank has incorporated its Climate and Nature Risk Management Policy into its overall risk framework. Furthermore, ESG factors have been integrated into the Credit Business Procedures. This update strengthens client engagement, encouraging companies that have yet to adopt sustainability measures to begin their transition.
In 2025, the bank joined the 3rd 2050 Net Zero City Expo organised by the National Development Council. By disclosing its decarbonisation achievements and long-term commitments, Chang Hwa Bank signalled its intent to work closely with stakeholders across its value chain to accelerate the transition to a low-carbon economy.
The ESGBusiness Awards celebrates companies that are leading the way in building a sustainable future. The awards programme honours businesses that demonstrate outstanding commitment and achievement in environmental, social, and governance (ESG) practices.
The ESGBusiness Awards is presented by ESGBusiness. To view the full list of winners, click here. If you want to join the 2026 awards programme and be acclaimed for your company's outstanding commitment and achievement in environmental, social, and governance (ESG) practices, please contact Julie Anne Nuñez-Difuntorum at [email protected].
